§ 35-1.2-106 — Funding for loan program

Colorado § 35-1.2-106

• Jurisdiction: Colorado
• Title 35: Agriculture
• Art.: Colorado Agricultural Future Loan Program

Text

(1) Within three days after June 29,
2021, the state treasurer shall transfer thirty million dollars from the general fund
to the fund for the implementation and administration of the loan program.

(2) Repealed.

(3) Beginning with the 2021-22 state fiscal year, the department may
annually use up to one and one-half percent of the money transferred pursuant to
subsection (1) of this section to pay the direct and indirect costs that the
department incurs in administering the loan program; except that nothing in this
subsection (3) may be construed as limiting the amount that the department may
provide to a financial entity as compensation for making loans pursuant to a
contract described in section 35-1.2-103 (4).

Legislative History

Source: L. 2021: Entire article added, (SB 21-248), ch. 374, p. 2475, � 1, effective June 29.